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alekssr [168]
3 years ago
8

(Ignore income taxes in this problem.) If you wanted to withdraw $12,000 from a bank account at the end of each of the next 20 y

ears, approximately how much would you have to invest in the account today assuming a 6% interest rate
Business
1 answer:
prisoha [69]3 years ago
4 0

Answer:

The money should be invested in bank = $137,639.05

Explanation:

Given  annually withdrawal money (annuity ) = $12000

Number of years (n ) = 20 years

Interest rate  = 6 percent.

Since a person withdraw money annually for next 20 years with 6 percent interest rate. Now we have to calculate the amount that have been invested in the account today. So below is the calculation for invested money.  

\text{Present value of annuity} = \frac{Annuity [1-(1 + r)^{-n}]}{rate} \\= \frac{12000 [1-(1 + 0.06)^{-20}]}{0.06} \\=12000 \times 11.46992122 \\=137,639.05

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A) $0

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The unsolicited part is the key here, since most awards are given to candidates that have been previously been nominated by someone, e.g. Nobel prizes are only given to nominated candidates and the winners must pay income taxes.

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When must you inspect your tools and extension cords?
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3 years ago
4)which of the following is correct when bad debt expense is recorded at year-end? b) net accounts receivable will decrease.
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The basic idea behind bad debt expense is the same as that behind all accounting principles: it enables businesses to completely and accurately report their financial position. Almost every business will encounter a customer who is unable to pay at some point, and they will need to record a bad debt expense.

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1 year ago
The marketing manager believes that increasing advertising costs by $74,000 in 2020 will increase the company’s sales volume to
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Answer:

Instructions are below.

Explanation:

Giving the following information:

The marketing manager believes that increasing advertising costs by $74,000 in 2020 will increase the company’s sales volume to 12,700 units.

<u>We weren't provided with enough information to solve the requirement. But, I will provide the general structure:</u>

<u></u>

Sales= (number of units*selling price per unit)=

Total variable cost= (total variable cost per unit*number of units)=

Contribution margin=

Fixed costs= (fixed costs + incremental fixed costs)=

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